China stocks rebound after IMF forecast

China stocks have witnessed a boom on Oct 9 despite the International Monetary Fund downgrading the forecast for global economic growth of 2012 to 3.3 percent in the World Economic Outlook unveiled in Tokyo, before the IMF-World Bank 2012 annual meetings.

Chinese stocks closed higher, with the benchmark Shanghai Composite Index jumping 1.97 percent, or 40.81 points, to close at 2,115.23. The Shenzhen Component Index closed at 8,743.86, up 2.39 percent, or 203.79 points.

Chinese stocks opened higher with the benchmark Shanghai Composite Index opening at 2,081.59, up 0.35 percent from the previous close. The Shenzhen Component Index opened 0.51 percent higher at 8,583.58. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, opened at 691.39 points on Tuesday, up 0.09 percent from the previous close.

By midday Oct 9, the Shanghai Composite Index rose 42.38 points, or 2.04 percent, to close Tuesday's morning session at 2116.80.

An investor at a stock sales department in Fuyang city, Anhui province, Oct 9, 2012. [Photo/CFP]

An investor at a stock sales department in Fuyang city, Anhui province, Oct 9, 2012. [Photo/CFP]